Mineralys Therapeutics (NASDAQ:MLYS) Sees Large Volume Increase

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares saw an uptick in trading volume on Monday . 313,451 shares changed hands during trading, an increase of 99% from the previous session’s volume of 157,511 shares.The stock last traded at $13.76 and had previously closed at $12.95.

Wall Street Analyst Weigh In

A number of research firms have commented on MLYS. The Goldman Sachs Group started coverage on Mineralys Therapeutics in a research note on Tuesday, April 2nd. They issued a “buy” rating and a $30.00 price objective on the stock. Lifesci Capital reaffirmed an “outperform” rating on shares of Mineralys Therapeutics in a research note on Tuesday, March 26th.

Mineralys Therapeutics Price Performance

The firm has a 50 day moving average price of $12.98 and a 200-day moving average price of $10.57. The firm has a market cap of $682.41 million, a price-to-earnings ratio of -6.88 and a beta of 2.05.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.24. On average, sell-side analysts expect that Mineralys Therapeutics, Inc. will post -2.44 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In other news, major shareholder Samsara Biocapital Gp, Llc purchased 555,555 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $13.50 per share, for a total transaction of $7,499,992.50. Following the completion of the acquisition, the insider now directly owns 5,074,916 shares in the company, valued at approximately $68,511,366. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 33.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC increased its stake in Mineralys Therapeutics by 64.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 192,362 shares of the company’s stock valued at $1,829,000 after buying an additional 75,248 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Mineralys Therapeutics during the third quarter worth about $386,000. China Universal Asset Management Co. Ltd. bought a new position in Mineralys Therapeutics in the fourth quarter valued at approximately $41,000. FMR LLC increased its position in shares of Mineralys Therapeutics by 62.6% during the 3rd quarter. FMR LLC now owns 1,188,653 shares of the company’s stock worth $11,304,000 after purchasing an additional 457,815 shares during the last quarter. Finally, Braidwell LP raised its stake in shares of Mineralys Therapeutics by 267.8% during the 3rd quarter. Braidwell LP now owns 2,023,900 shares of the company’s stock worth $19,247,000 after purchasing an additional 1,473,600 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone.